Home | Alameda County | Oakland | 94611 | 550 Fairmount Ave
MLS: EB41148486 | Status: | Price: $2,295,000
Beds/Baths: – / –
Property Type: Residential Income
| Beds | Baths | Sq Ft | Sq Ft Lot | Yr Built |
|---|---|---|---|---|
| – | – | 6,632 | 6,900 | 1963 |
550 Fairmount Ave presents the opportunity to acquire a 10-unit apartment community in Grand Lake, one of Oakland's most consistently in-demand rental neighborhoods. The three-story 1963 building comprises six 1BR/1BA and four 2BR/1BA units totaling 6,632 SF on a 6,900 SF lot, set over covered off-street parking with five spaces generating additional income. Eight of the ten units have been updated leaving a clear, low-capital path to completing the program. The investment case pairs dependable in-place revenue with incredible upside: scheduled income of $19,509 per month against market rents of $26,350, an approximately 35% gap rooted in tenancies dating to 2006. At $2,295,000, the offering trades at a 7.0% current CAP and 9.3 GRM, rising to a 10.1% CAP as units turn to market. Steps from the Grand Avenue and Lakeshore retail corridors, the Grand Lake Theatre, and Lake Merritt, with MacArthur BART one mile away and immediate I-580 access, putting downtown Oakland and San Francisco within easy reach. A rare Grand Lake value-add at $229,500 per unit.
| Field | Value |
|---|---|
| MLS # | EB41148486 |
| MLS Source | Bridge MLS |
| Days on Site | 1 |
| Feature | Details |
|---|---|
| Flooring | Vinyl |
| Cooling | None |
| Heating | Baseboard |
Willem Bos
COMPASS
License #: 02013980
Phone: (916) 698-9954
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| – | – | 10 |
| Type | Sq Ft | Beds | Baths | Min Rent | Max Rent | Units Like This |
|---|---|---|---|---|---|---|
| 1 | – | 1 | 0/0 | – | – | – |
| 2 | – | 2 | 0/0 | – | – | – |
School data provided by GreatSchools.org
| School | Type | Grades | Distance | Rating |
|---|---|---|---|---|
| Beach Elementary School | public | K-5 | 0.46 mi | 8 |
| Piedmont Avenue Elementary School | public | K-5 | 0.58 mi | 5 |
| Westlake Middle School | public | 6-8 | 0.61 mi | 2 |
| Street Academy (Alternative) | public | 9-12 | 0.67 mi | 2 |
| Oakland Technical High School | public | 9-12 | 0.75 mi | 8 |
| Oakland International High School | public | 9-12 | 0.90 mi | 1 |
| Emerson Elementary School | public | K-5 | 0.91 mi | 5 |
| Wildwood Elementary School | public | K-5 | 1.04 mi | 9 |
| Piedmont Middle School | public | 6-8 | 1.11 mi | 8 |
| Millennium High Alternative School | public | 9-12 | 1.12 mi | 7 |
| Piedmont Preschool | public | UG | 1.12 mi | N/A |
| Hoover Elementary School | public | K-5 | 1.15 mi | 4 |
| Piedmont High School | public | 9-12 | 1.18 mi | 9 |
| Piedmont Adult Education | public | UG | 1.19 mi | N/A |
| Havens Elementary School | public | K-5 | 1.19 mi | 9 |
| Cleveland Elementary School | public | K-5 | 1.33 mi | 6 |
| McClymonds High School | public | 9-12 | 1.35 mi | 2 |
| Oakland Adult And Career Education | public | UG | 1.37 mi | N/A |
| Oakland High School | public | 9-12 | 1.56 mi | 4 |
| Home And Hospital Program | public | K-12 | 1.58 mi | N/A |
| Address | Price | Beds | Baths | Sq Ft | Status |
|---|---|---|---|---|---|
| 390 Euclid Ave | $1,950,000 | – | – | 0 | Active |
| 430 Vernon Street | $2,200,000 | – | – | 8,004 | Active |
| 1900 Woolsey St | $1,899,000 | – | – | 2,556 | Active |
| 1298 63rd St | $1,995,000 | – | – | 4,470 |
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This listing information is up-to-date as of September 17, 2026. For the most current information, please contact Willem Bos, (916) 698-9954.